It is very heartbreaking that in a country with so many resources, unemployment has taken its toll on the nation and seized to take a step down. Employment has become a scarce commodity especially among youths who have gone through the four walls of school, spending years and time to be educated enough in order to get the employment due them and earn a decent living.
However, if the government alongside the citizens at large corporate and do the needful, unemployment might as well hide its face from us all and allow the sun of a better economy to smile at us. To achieve this, there are certain paths we must follow and important principles we must all obey.
This article contains five ways job opportunities can be created in Nigeria. I believe that if these suggested points are put to practice by the government alongside the citizens, it would go a long way in putting eradicating unemployment in the nation thereby reducing inflation in the economy.
This goes directly to the youths and students likewise the government. Today, technology has taken over the world and youths are exposed anything related to technology. With this exposure, government should place more emphasis on vocational and technical skill by providing basic vocational equipments and also sponsor skill acquisition programs. By doing so, students/youths will get the appropriate assistance needed to develop important skills and in turn, offer better employment opportunities in the society.
Technical and vocational education and training plays an essential role in improving the well-being of youths and communities. It helps individuals develop their various hidden potentials and talents thereby making them self-employed as they can easily use their skills to earn a decent living. It also increases productivity, empowers individual to become self reliant and stimulates entrepreneurship. This can also increase foreign exchange in the country as businesses are more willing to invest in a community with strong human resources.
Nigeria should put an end to the desire for foreign product and willingly accept our home-made goods. We should also encourage the manufacturing of products in Nigeria for exportation instead of relying so much on imported goods as more exportation of goods and services brings about a high level of trade surplus.
Exportation boosts the local economy and helps local businesses increase their revenue. Exports are incredibly important to modern economies because they offer people and firms many more markets for their goods. Exports bring valuable foreign exchange to the exporting country, expand the market and create more job opportunities.
High marginal tax rates can discourage work, saving, investment, and innovation. The higher the tax wedge the stronger the disincentives to work. These tax burdens discourage employers from hiring. They also reduce the incentives for the unemployed to look for a job, and for those in employment to work longer or harder. Government should lower taxes or provide short time concessions to businesses to stimulate the economy thereby creating more employment opportunities.
Income tax cuts increase demand by putting more money into consumers’ pockets. That’s important because consumer spending drives 68% of economic growth. It creates employment opportunities as businesses would want to ramp up production by recruiting workers to meet the higher demand.
The presence of corrupt practices in the country has been an impediment to the increasing rate of employment in the country despite its enormous resources. The high rate of unemployment in the country is being attributed to corruption especially in high places of authority as those in government who are to use public money for building more industries are busy embezzling the funds for their selfish use. The result is definitely massive increase in unemployment rate.
Frankly speaking, it is high time for corrupt practices to come to an abrupt end. It should be put to stop as it has caused enough damages in the country and to its citizens as a whole. Strengthening the integrity of the judiciary and prosecution services, addressing corruption in the private sector and promoting participation of society is also effective system for prevention of corruption. If the government and other authorities including the subjects are all determined to drive the nation forward, then corruption must be eradicated for the citizens to enjoy what is rightfully theirs. This will increase employment opportunities as citizens will be happy to work in an environment where both the employee and employer does the right thing the right way and for the right purposes.
Infrastructure development is a vital component in encouraging a country’s economic growth. Not only does infrastructure in itself enhance the efficiency of production, transportation, and communication, but it also helps provide economic incentives to public and private sector participants. Infrastructure investments alleviate poverty in developing countries through the application of projects such as bridges, roads, communication, sewage and electricity. These projects enable both public and private investors to gain on capital appreciation. Evidence shows that infrastructure can create significant economic stimulus even compared to other forms of spending. Infrastructures provide for a lot of employment generation and employment opportunities.
The importance of infrastructure is exceptionally wide-ranged. The ability to quickly and safely transport citizens to school, work, hospitals and public spaces is hugely beneficial for a country. By mobilizing citizens, both literally and figuratively, the local economics are also significantly stimulated thereby increasing employment opportunities people would gladly work in an environment conducive enough to increase output. For example, if there is constant supply of electricity in a company, fewer funds would put into the purchase of petrol while more funds would be converted into the company’s investment thereby increasing labor which will definitely result into employing more work forces.
In view of all of these, government and the citizens as a whole should try as much as possible to create employment opportunities to boost the economic development in the country. It is very saddening to see a first class graduate roaming about on the streets pick-pocketing or more so, sitting at home with a laptop defrauding people of their hard earned money in the name of ‘online business’ all because of unemployment. It is also more heartbreaking when government leaders refuse to take up their responsibilities but rather nurture their selfish desires at the expense of citizens’ lives and well-being. Everyone is to do the right thing at the right time with the right intention and purpose to achieve one goal which is a better Nigeria.